www.iva.co.uk

Have just received confirmation of my 2nd annual review and everything is ok. I do however have a query on disbursements - any help appreciated :-

Bank Charges £10, Life Assurance £60 - understand these. But there are two more which I would like to understand - Viola Leasing £240 and Costs re mis-selling claims £240 - any explanation what these represent would be greatly appreciated. I am not questionning these amounts just simply like to understand. Many thanks.

Can anyone explain what these disbursements are? Many thanks

Hi, I can't I'm afraid what I will do is help to keep this bumped up for someone who does. You can ring your IP who will no doubt be able to explain these to you too x

No idea but again lets keep this bumped up then an expert will come along and enlighten us all

Thanks - will attempt to ring on Monday but being impatient wanted to see if anyone could enlighten me over the weekend.

If you get any answers let us know won't you. Good luck

I think disbursements are costs of running the iva which are not covered by the fees because fees are for time only. I think my proposal allows for circa £1600 in disbursements over the life of the arrangement. Although I haven't read my last annual report in nearly a year so my memory could be wrong!!

Ahhh BOL that rings a bell now.

Ok thanks - having checked my last years' 1st review letter I was charged a similar amount in total for disbursements but for differing things so could amount to over £2,500 during a five year iva if this is typical for each year - ours probably be six years. Am not concerned because I realise all fees have been agreed by creditors - well presuming this agreement also includes disbursements????

I believe it is all agreed and it gets reported on each year so creditors have the opportunity to query anything if it looks unusual. x

ok thanks BOL